Colorado § 7-40-101 Who may organize - certificate - fees

Colorado Statutes

§ 7-40-101 — Who may organize - certificate - fees

Colorado·Title 07 Corporations·Art. Corporations Not For Profit

(1)(a) Any three or more persons, who may or may not be residents of the state of Colorado, may associate themselves together to establish a corporation not for profit for any lawful business or to promote any legitimate object or purpose and may make, sign, and acknowledge and file in the office of the secretary of state of the state of Colorado and record in the office of the recorder of each county in which said corporation owns real estate in the state of Colorado a certificate in writing, setting forth the name of such corporation, the business, objects, or purposes for which it is formed, and the names of the first directors, trustees, or managers. The department of revenue shall collect a fee of five dollars for filing said certificate.

(b)Notwithstanding the amount spec

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(1) (a) Any three or more
persons, who may or may not be residents of the state of Colorado, may associate
themselves together to establish a corporation not for profit for any lawful business
or to promote any legitimate object or purpose and may make, sign, and
acknowledge and file in the office of the secretary of state of the state of Colorado
and record in the office of the recorder of each county in which said corporation
owns real estate in the state of Colorado a certificate in writing, setting forth the
name of such corporation, the business, objects, or purposes for which it is formed,
and the names of the first directors, trustees, or managers. The department of
revenue shall collect a fee of five dollars for filing said certificate.

(b) Notwithstanding the amount specified for the fee in paragraph (a) of this
subsection (1), the executive director of the department of revenue by rule or as
otherwise provided by law may reduce the amount of the fee if necessary pursuant
to section 24-75-402 (3), C.R.S., to reduce the uncommitted reserves of the fund to
which all or any portion of the fee is credited. After the uncommitted reserves of
the fund are sufficiently reduced, the executive director by rule or as otherwise
provided by law may increase the amount of the fee as provided in section 24-75-402 (4), C.R.S.

(2) The provisions of this article shall not apply to any nonprofit corporation
formed after December 31, 1967, nor shall they apply to any corporation not for
profit formed prior to January 1, 1968, which is subject to the provisions of articles
121 to 137 of this title.

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Legislative History

Source: G.L. � 224. G.S. � 367. R.S. 08: � 1013. C.L. � 2379. L. 31: p. 248, � 22. CSA: C. 41, � 172. L. 51: p. 282, � 1. CRS 53: � 31-20-1. C.R.S. 1963: � 31-19-1. L. 67: p. 658, � 10. L. 68: p. 2, � 2. L. 97: (2) amended, p. 756, � 7, effective July 1, 1998. L. 98: (1) amended, p. 1320, � 14, effective June 1.